CAIRNHILL ASTORIA IN DISTRICT 9 TO BE PUT UP FOR COLLECTIVE SALE FOR $196M
BT 16 May 2018: Freehold development Cairnhill Astoria will be launched for collective sale on Thursday via public tender for S$196 million.
The reserve price reflects a land rate of S$1,964 per square foot per plot ratio (psf ppr), inclusive of an estimated development charge of S$16.34 million. This is comparable to the land rate of S$1,914 psf ppr at Cairnhill Heights which was sold last month, and less than than the S$2,311 psf ppr at Cairnhill Mansions which was transacted in February this year, marketing agent Colliers International highlighted.
Sitting on a 3,587.5 square metre (about 38,615 sq ft) site in prime District 9, Cairnhill Astoria – built in 1983 – comprises 36 apartments across a high-rise residential tower and a low-rise block. Under the Master Plan 2014, the land parcel is zoned “residential” and has a gross plot ratio of 2.8 …..
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Below is a price trend comparison between Cairnhill Astoria and 8 St Thomas new launch.
This will give us an idea of the potential prices of the new units to be built on this site (if enbloc is successful).
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